Romanian alumina producer Alum Tulcea, owned by aluminum producer Alro Slatina, has contracted a USD 25 million financing from the Black Sea Trade and Development Bank (BSTDB) and Garanti Bank Romania.
The company will use the money to continue investments in reducing its carbon footprint. BSTDB’s financing amounts to USD 20 million while the remaining amount will be provided by Garanti Bank.
“Alum has implemented in the last years an extensive investment program aimed at increasing its energy and processes efficiency while complying with the environmental regulations in place. This new financing obtained from reliable business partners such as Garanti Bank and BSTDB represents a new step forward for continuing our long-term investment program, focused on technology upgrading, products portfolio’s diversification, development of new value-added products and safety and environmental protection projects”, said Gheorghe Dobra, CEO Alum.
Between 2009-2016, Alum invested USD 28 million to upgrade part of the existing equipment with the aim to make the production process more efficient and to comply with the European norms on environmental protection.